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After bankruptcy: German hotel group is looking for buyers

The chain Tidal Operations Germany operates hotels called “Holiday Inn Express” in the largest German cities. Because of Corona, she had to file for bankruptcy – and is looking for an investor.

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The corona crisis hits the hotel industry in Germany hard. Now there is another victim of the pandemic: The operating company of ten hotels of the “InterContinental” group in Germany is insolvent – and is looking for a new investor. This emerges from a press release by “Tidal Operations Germany”.

The following hotels belong to the group of companies:

  • Crowne Plaza Hamburg City Alster
  • Holiday Inn Munich City Center
  • as well as eight “Holiday Inn Express” hotels (Berlin City Center, Dortmund, Düsseldorf City Center North, Frankfurt Airport, Frankfurt Messe, Troisdorf, Cologne-Mülheim, Munich Messe)

The Hotel Crowne Plaza in Heidelberg was closed at the end of July.

Hotel operations are to be continued

Because of the corona lockdown, the hotels stayed away from guests and thus no sales. Even after reopening, the occupancy rate remained below the previous year’s level, according to a press release.

Therefore, an insolvency administrator was appointed by the court in September. Together with the landlords, he is now looking for a new operator of the hotels by the end of the year so that they can continue to operate. Around 250 employees currently work in the ten systems.

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